EPAM Systems (NYSE:EPAM) SVP Sells $528,301.86 in Stock

Key Points

• EPAM SVP Lawrence Solomon sold 3,299 shares for about $528,302, reducing his stake by 9.79% to 30,390 shares.
• The company beat quarterly estimates, reporting EPS of $3.51 versus $3.41 expected and revenue of $1.43 billion, up 2.3% year over year.
• Analysts have a consensus Hold rating and an average price target of $145.87; six rate the stock Buy and eleven rate it Hold.

EPAM Systems, Inc. (NYSE:EPAM - Get Free Report) SVP Lawrence Solomon sold 3,299 shares of the stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $160.14, for a total value of $528,301.86. Following the completion of the transaction, the senior vice president directly owned 30,390 shares in the company, valued at approximately $4,866,654.60. This trade represents a 9.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

EPAM Systems Trading Up 0.7%

Shares of NYSE:EPAM traded up $1.06 during midday trading on Thursday, hitting $163.88. The company had a trading volume of 796,644 shares, compared to its average volume of 1,481,639. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.01. EPAM Systems, Inc. has a 12 month low of $73.06 and a 12 month high of $222.53. The firm has a fifty day simple moving average of $124.55 and a 200 day simple moving average of $120.56. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.70 and a beta of 1.28.

EPAM Systems (NYSE:EPAM - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The information technology services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.41 by $0.10. EPAM Systems had a return on equity of 16.76% and a net margin of 7.53%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the company posted $3.08 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. On average, analysts predict that EPAM Systems, Inc. will post 10.49 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Stifel Nicolaus set a $135.00 price objective on EPAM Systems in a research note on Thursday, August 6th. JPMorgan Chase & Co. cut EPAM Systems from an "overweight" rating to a "neutral" rating and set a $120.00 target price for the company. in a research note on Wednesday, August 26th. Wells Fargo & Company increased their price target on EPAM Systems from $156.00 to $176.00 and gave the stock an "overweight" rating in a report on Friday, November 6th. Mizuho set a $130.00 price target on EPAM Systems in a research report on Monday, August 10th. Finally, Citigroup lifted their price objective on EPAM Systems from $140.00 to $172.00 and gave the company a "neutral" rating in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $145.87.

Institutional Investors Weigh In On EPAM Systems

Several large investors have recently made changes to their positions in EPAM. Financial Management Professionals Inc. lifted its position in EPAM Systems by 47.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 268 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 86 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in EPAM Systems by 4.7% during the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 2,812 shares of the information technology services provider's stock worth $381,000 after purchasing an additional 126 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in shares of EPAM Systems by 14.3% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,169 shares of the information technology services provider's stock valued at $127,000 after purchasing an additional 146 shares during the period. University of Texas Texas AM Investment Management Co. raised its stake in shares of EPAM Systems by 236.2% in the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 232 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 163 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of EPAM Systems by 31.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 708 shares of the information technology services provider's stock valued at $77,000 after purchasing an additional 169 shares during the period. Institutional investors own 91.58% of the company's stock.

About EPAM Systems

EPAM Systems is a global provider of software engineering, digital transformation and consulting services. The company helps businesses design, build and maintain software products and digital platforms, and offers services in areas such as cloud computing, data and artificial intelligence, and cybersecurity. Founded in 1993 by Arkadiy Dobkin, EPAM has grown from a software development firm into a technology services company serving clients across the Americas, Europe and Asia-Pacific. It works with organizations in industries including financial services, healthcare, retail and technology.

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